Buying coins better in case if you decide buy rig and start mining for long-term hodling
THIS!!!!
miners want instant profit by selling. If you are a holder mining, that doesn't make sense since electricity costs will crash your income.
Topic: Entry level minning rig, Expense vs. Profit??? - page 2. (Read 335 times)
THIS!!!!
miners want instant profit by selling. If you are a holder mining, that doesn't make sense since electricity costs will crash your income.
@Edwardcemg, didn’t quite understand but what i grasp is your talking about risk on trading right? If so, you have a good point. About trading and hodl we both know how the market goes.
It's not that.the point is mining have risky. I only explain when purchasing coin isn't a better way if compared with build rig for the first time let alone for now where the price of GPU increased sharply.
Do you mind to share the risk that your referring to sir? Underatamd the price of the GPU’s but to purchase a coin is not better you lost me right there sir.
Im thinking to put up an entry level minning rig with the budget around 4 to 5 thousand USD. But my question is, is it worth it? Should i proceed with it or save for a better rig? Given the idea that GPU’s are either expensive or out of stock plus the expenses to run and maintain the rig versus the profit you get and the competitors? Lots of questions in my head guys need help. Thank you in advance
I wouldn't invest a single dollar currently, mining profitability keeps decreasing. If you spend that much money, it will either take years to break even, or not even manage to earn back what you invested in the first place. It's probably the worst period to get into mining currently. Im thinking to put up an entry level minning rig with the budget around 4 to 5 thousand USD. But my question is, is it worth it? Should i proceed with it or save for a better rig? Given the idea that GPU’s are either expensive or out of stock plus the expenses to run and maintain the rig versus the profit you get and the competitors? Lots of questions in my head guys need help. Thank you in advance
If you are putting together a new rig that will be used for only mining, I would advise against it at this juncture. Earnings are in the gutter and I think it would be impossible to recoup your costs before the new Nvidia cards come out. You are probably better off waiting until those are released to do anything.
Buying coins better in case if you decide buy rig and start mining for long-term hodling
@Edwardcemg, didn’t quite understand but what i grasp is your talking about risk on trading right? If so, you have a good point. About trading and hodl we both know how the market goes.
It's not that.the point is mining have risky. I only explain when purchasing coin isn't a better way if compared with build rig for the first time let alone for now where the price of GPU increased sharply.
@Edwardcemg, didn’t quite understand but what i grasp is your talking about risk on trading right? If so, you have a good point. About trading and hodl we both know how the market goes.
@Eternu, i have to agree with you. All investment should have a prior knowledge of it. And thats why i open this topic. We all know that minning is the most safest when it comes to this business and that is why i opt to set this project.
@Eternu, i have to agree with you. All investment should have a prior knowledge of it. And thats why i open this topic. We all know that minning is the most safest when it comes to this business and that is why i opt to set this project.
it's better to buy directly the coins with the money of the rig. simple as that.
it's no better but pretty good and that also have risky.
when you buying a coin and then that coin is diving, whether you will selling that a coin to reducing a loss.? or
Do you wait until a coin return like first you bought that coin? or
you hodl that coin and hope that price a coin headed to the moon?.
(don't think buying coins can be profitable even though I know that prices can't be predicted but still, have to think about the risks its.)
not that simple, mining or buying a coin has risky each.
Nothing is simple when it comes to investing and mining, there are a lot of factors that could change everything. As I see it, mining brings lower earning, but safer income with lower risk. While trading brings higher income, but it goes with higher risk. Best option is to do both. It demands knowledge and much more time invested, but it could bring much more. OP asked about mining, so I guess s/he is not interested in trading at this point.
EDIT: Also there is option where OP could do mining and later on sell that coin for some more stable and stronger coin, like BTC or ETH.
it's better to buy directly the coins with the money of the rig. simple as that.
it's no better but pretty good and that also have risky.
when you buying a coin and then that coin is diving, whether you will selling that a coin to reducing a loss.? or
Do you wait until a coin return like first you bought that coin? or
you hodl that coin and hope that price a coin headed to the moon?.
(don't think buying coins can be profitable even though I know that prices can't be predicted but still, have to think about the risks its.)
not that simple, mining or buying a coin has risky each.
True! It would a game changer if we can mine different coins using ASIC. It is ideal when it comes to expenses and maintenance. I have heard the news about NVIDIA and also keeping an eye weather this new gpu is a better match for the for my project.
i would advice not to buy gpu's in a very deep down trend. You´ll get almost no profit at all. Unless you want to mine for hold. In that case, it's better to buy directly the coins with the money of the rig. simple as that.
If you mine, is because you want to sell the coins for electricity. Other than that, is just nonsense.
Good point here. Which where i stand now. Ive seen a thread where poeple start to sell their rig. Which the post above answered the ROI takes time. If you mine, is because you want to sell the coins for electricity. Other than that, is just nonsense.
currently roi time is very long, because gpu prices still high...but everything can change within days/weeks...to be more or less profitable
crypto is always a little bit gamble, just play with money you can effort to loose 100%
on the other hand your question have been asked here 100000 times, just use search function
crypto is always a little bit gamble, just play with money you can effort to loose 100%
on the other hand your question have been asked here 100000 times, just use search function
Agreed sir, forgive me for being such a noob. Investment is always a gamble in that matter. There are a lot of infos here and out, and it’s difficult filter.
I have heard that maybe soon people would be able to buy ASIC miners for crypto other than Bitcoin. If that happens, it would be wiser to go for ASIC miners instead of GPU's.
At the moment GPU mining doesn't pay off very well. Money you would need to invest would be trapped, and earning invested money back would be slow. But its possible, and it would be profitable.
Also, I have heard that Nvidia is planing to release new set of GPU's. If and when that happens, prices of old series would go down. You should wait and see how things are going to work out.
With that much money you could start mining project, but my advice would be to wait a little bit before you decide what to do.
At the moment GPU mining doesn't pay off very well. Money you would need to invest would be trapped, and earning invested money back would be slow. But its possible, and it would be profitable.
Also, I have heard that Nvidia is planing to release new set of GPU's. If and when that happens, prices of old series would go down. You should wait and see how things are going to work out.
With that much money you could start mining project, but my advice would be to wait a little bit before you decide what to do.
i would advice not to buy gpu's in a very deep down trend. You´ll get almost no profit at all. Unless you want to mine for hold. In that case, it's better to buy directly the coins with the money of the rig. simple as that.
If you mine, is because you want to sell the coins for electricity. Other than that, is just nonsense.
If you mine, is because you want to sell the coins for electricity. Other than that, is just nonsense.
currently roi time is very long, because gpu prices still high...but everything can change within days/weeks...to be more or less profitable
crypto is always a little bit gamble, just play with money you can effort to loose 100%
on the other hand your question have been asked here 100000 times, just use search function
crypto is always a little bit gamble, just play with money you can effort to loose 100%
on the other hand your question have been asked here 100000 times, just use search function
Im thinking to put up an entry level minning rig with the budget around 4 to 5 thousand USD. But my question is, is it worth it? Should i proceed with it or save for a better rig? Given the idea that GPU’s are either expensive or out of stock plus the expenses to run and maintain the rig versus the profit you get and the competitors? Lots of questions in my head guys need help. Thank you in advance
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